Comprehensive review of text-mining applications in finance

Text-mining technologies have substantially affected financial industries. As the data in every sector of finance have grown immensely, text mining has emerged as an important field of research in the domain of finance. Therefore, reviewing the recent literature on text-mining applications in financ...

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Bibliographic Details
Published in:Financial innovation (Heidelberg) 2020-11, Vol.6 (1), p.1-25, Article 39
Main Authors: Gupta, Aaryan, Dengre, Vinya, Kheruwala, Hamza Abubakar, Shah, Manan
Format: Article
Language:English
Subjects:
Corporate finance
Economics
Economics and Finance
Financial forecasting
Machine learning
Macroeconomics/Monetary Economics//Financial Economics
Political Economy/Economic Systems
Review
Sentiment analysis
Text classification
Text mining
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Summary:Text-mining technologies have substantially affected financial industries. As the data in every sector of finance have grown immensely, text mining has emerged as an important field of research in the domain of finance. Therefore, reviewing the recent literature on text-mining applications in finance can be useful for identifying areas for further research. This paper focuses on the text-mining literature related to financial forecasting, banking, and corporate finance. It also analyses the existing literature on text mining in financial applications and provides a summary of some recent studies. Finally, the paper briefly discusses various text-mining methods being applied in the financial domain, the challenges faced in these applications, and the future scope of text mining in finance.
ISSN:2199-4730
2199-4730
DOI:10.1186/s40854-020-00205-1